Slide 1: 3Q2017 & 9M2017 Results Presentation
3Q2017 & 9M2017 Results Presentation 28 October 2017 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 2: Disclaimer
Disclaimer This presentation should be read as an overview of iFAST Corporation Ltd.’s ("iFAST Corp" or together with its subsidiaries, the “Group”) current business activities and operating environment. This presentation should not be solely relied upon by current and potential investors when makin
Slide 3: Table of Content
Table of Content Section Title I Financial Results 3Q2017 (Jul - Sep 2017) and 9M2017 (Jan - Sep 2017) results Financial ratios Financial position Interim dividend II Performance Trends Assets under Administration (AUA) Net sales and subscription excluding switching Recurring net revenue, non-recurr
Slide 4: Key Summary
Key Summary • The Group’s Assets Under Administration (AUA) increased 19.3% YoY to hit a record high of S$7.16 billion as at 30 September 2017. The increase marked the fifth consecutive quarter of record AUA levels for the Group • The improvements resulted from the Group’s continuing efforts at stre
Slide 5: Group AUA grew 19.3% YoY to record S$7.16 billion
Group AUA grew 19.3% YoY to record S$7.16 billion S$ million AUA (as at 30 Sep 2017): S$7.16 billion¹ $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- Sep-01 Sep-02 Sep-03 Sep-04 Sep-05 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Sep-17 Mar-02 Mar-03 Mar-04
Slide 6: Key Summary
Key Summary • Since listing on the SGX-ST Mainboard in December 2014, iFAST Corp’s priorities have been to broaden the range of investment products and services on its platforms, and lay the infrastructure to kick-start its business in China, a market it believes to be key in the future. The Group’s
Slide 7: Key Summary
Key Summary • The Group’s Dividend Guidance for FY2017 (similar to FY2016) is: “For FY2017, our Directors intend to recommend and distribute dividends of 60% or more of our Group’s net profit (excluding our China operation, and exceptional items)” • The Directors have proposed a third interim divide
Slide 8: Section I: Financial Results
Section I: Financial Results PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 9: Presentation of Group’s Results
Presentation of Group’s Results Presentation of Group’s results (including and excluding China) • In view of the guidance we have provided on our China operation (that the China business would be expected to have a negative impact on the Group’s overall operating profit on a consolidated basis in 20
Slide 10: Financial Results for Group (excluding China operation) (3Q2017 vs 3Q2016)
Financial Results for Group (excluding China operation) (3Q2017 vs 3Q2016) S$ (Million) 3Q2016 3Q2017 YoY change (%) Revenue 20.80 26.09 +25.4 Net revenue 10.63 12.88 +21.2 Other income 0.31 0.65 +109.1 Expenses 7.96 9.83 +23.4 Net finance income 0.19 0.18 -6.4 Share of results of associates, net of
Slide 11: Financial Results for Group (including China operation) (3Q2017 vs 3Q2016)
Financial Results for Group (including China operation) (3Q2017 vs 3Q2016) S$ (Million) 3Q2016 3Q2017 YoY change (%) Revenue 21.00 26.23 +24.9 Net revenue 10.68 13.02 +21.9 Other income 0.31 0.65 +108.0 Expenses 9.13 11.06 +21.1 Net finance income 0.18 0.18 -2.2 Share of results of associates, net o
Slide 12: Financial Results for Group (excluding China operation) (9M2017 vs 9M2016)
Financial Results for Group (excluding China operation) (9M2017 vs 9M2016) S$ (Million) 9M2016 9M2017 YoY change (%) Revenue 58.61 72.61 +23.9 Net revenue 29.61 35.85 +21.1 Other income 1.41 1.52 +7.5 Expenses 24.14 26.80 +11.0 Net finance income 0.64 0.53 -17.4 Share of results of associates, net o
Slide 13: Financial Results for Group (including China operation) (9M2017 vs 9M2016)
Financial Results for Group (including China operation) (9M2017 vs 9M2016) S$ (Million) 9M2016 9M2017 YoY change (%) Revenue 59.05 72.99 +23.6 Net revenue 29.71 36.14 +21.6 Other income 1.41 1.52 +7.4 Expenses 26.98 30.33 +12.4 Net finance income 0.64 0.54 -15.4 Share of results of associates, net o
Slide 14: Results Overview for Group (excluding China operation)
Results Overview for Group (excluding China operation) S$ (Million) FY2013¹ FY2014² FY2015 FY2016⁴ 9M2017 Revenue 69.47 78.35 85.34 79.89 72.61 Net revenue 31.58 36.68 41.53 40.46 35.85 Other income 0.16 0.24 1.53 1.88 1.52 Operating expenses 23.58 25.62 30.06 32.44 26.80 Net finance income 0.03 0.1
Slide 15: Results Overview for Group (including China operation)
Results Overview for Group (including China operation) S$ (Million) FY2013¹ FY2014² FY2015 FY2016⁴ 9M2017 Revenue 69.47 78.35 85.34 80.60 72.99 Net revenue 31.58 36.68 41.53 40.69 36.14 Other income 0.16 0.24 1.53 1.88 1.52 Operating expenses 23.58 26.14 31.08 36.48 30.33 Net finance income 0.03 0.1
Slide 16: PBT margin for Group (based on net revenue)
PBT margin for Group (based on net revenue) (excluding China operation) (including China operation) 35% 33.1% 35% 31.1% 30.7% 30.0% 29.6% 30% 30% 26.0% 26.0% 26.0% 25% 25% 20.9% 20% 20% 16.7% 15% 15% 10% 10% 5% 5% 0% 0% 2013 2014 2015 2016 9M2017 2013 2014 2015 2016 9M2017 Notes: 1. PBT margins (201
Slide 17: Financial Ratios
Financial Ratios S$ (Million) FY2013 FY2014 FY2015 FY2016 9M2017 Operating 7.13 10.18 14.18 5.63 8.09 Cashflows Capital 1.57 2.34 5.45 6.61 4.09 Expenditure 31 Dec 31 Dec 31 Dec 31 Dec 30 Sep S$ (Million) 2013 2014 2015 2016 2017 Net Current 20.70 63.16 68.32 64.39 61.46 Assets 31 Dec 31 Dec 31 Dec
Slide 18: Cash position
Cash position As at 31 Dec 2016 As at 30 Sep 2017 (S$ million) (S$ million) Cash and cash equivalents 22.46 25.90 Other investments¹ 32.13 23.33 Total cash and other investments 54.59 49.23 Note: 1. Other investments comprise investments in available-for-sale financial assets and held-for-trading fi
Slide 19: Number of issued shares
Number of issued shares As at 31 Dec 2016 As at 30 Sep 2017 Total number of issued shares 262,223,415 264,032,318 19 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 20: Our Consolidated Financial Position as at 30 Sep 2017
Our Consolidated Financial Position as at 30 Sep 2017 S$’000 NON-CURRENT ASSETS Fixed Assets 2,360 Intangible Assets 11,486 Associates 1,639 Other investments 3,849 Others 382 19,716 CURRENT ASSETS Trade & other receivables 34,768 Prepayments & others 1,408 Other Investments 23,331 Cash & cash equiv
Slide 21: Our Consolidated Financial Position as at 30 Sep 2017 – cont’d
Our Consolidated Financial Position as at 30 Sep 2017 – cont’d S$’000 CURRENT LIABILITIES Trade & other payables 23,009 Finance Lease 5 Current tax payable 930 23,944 NON-CURRENT LIABILITIES Deferred Tax 711 Finance Lease 15 726 EQUITY Share Capital 65,199 Accumulated profits 16,840 Other reserves (
Slide 22: Third Interim Dividend for FY2017
Third Interim Dividend for FY2017 Third Interim Dividend for FY2017 - Schedule Dividend per share 0.75 cents per ordinary share Ex-dividend date 3 November 2017 Record date and time 7 November 2017 (5.00 pm) Payment date 17 November 2017 • The Group’s Dividend Guidance for FY2017 is: “For FY2017, ou
Slide 23: Section II: Performance Trends
Section II: Performance Trends PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 24: Group AUA Trends
Group AUA Trends Singapore: 68.7% Hong Kong: 22.4% Malaysia: 7.1% Others: 1.8% • The AUA contribution from the China Business and India Business (based on the Group’s effective 16.3% share of the India Business) is included in the ‘Others’ category • The Group’s AUA rose 19.3% YoY and 5.1% QoQ to a
Slide 25: Net sales & Subscription ex-switching
Net sales & Subscription ex-switching S$ million S$ million Net Sales Subscription ex-switching $700 $649 $2,000 $1,843 $600 $1,800 $1,670 $1,547 $1,574 $1,600 $501 $500 $458 $1,365 $1,400 $396 $400 $1,200 $1,126 $1,000 $300 $235 $800 $200 $170 $600 $400 $100 $200 $- 2013 2014 2015 2016 9M16 9M17 $-
Slide 26: Net revenue breakdown between recurring and non-recurring sources
Net revenue breakdown between recurring and non-recurring sources Average contribution from recurring net revenue as opposed to non-recurring net revenue in the S$ million period from 2012 to 9M2017 was 83.0% 45 40 6.9 6.0 35 7.2 6.2 30 6.0 25 4.0 4.8 20 18.1 12.3 4.6 34.6 34.7 15 29.5 30.0 4.0 25.6
Slide 27: Net revenue as a ratio of average AUA
Net revenue as a ratio of average AUA 0.800% 0.700% 0.144% 0.122% 0.105% 0.125% 0.134% 0.600% 0.500% 0.400% 0.300% 0.591% 0.615% 0.609% 0.606% 0.574% 0.200% 0.100% 0.000% 2013 2014 2015 2016 9M2017 Recurring net revenue / AUA Non-recurring net revenue / AUA 27 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNA
Slide 28: Net revenue and operating expenses as a ratio of average AUA (excluding China)
Net revenue and operating expenses as a ratio of average AUA for Group (excluding China operation) 0.800% 0.735% 0.738% 0.728% 0.707% 0.711% 0.700% 0.615% 0.607% 0.605% 0.591% 0.600% 0.574% 0.570% 0.534% 0.544% 0.528% 0.513% 0.500% 0.400% 0.300% 0.200% 0.100% 0.000% 2013 2014 2015 2016 9M2017 Net re
Slide 29: Net revenue and operating expenses as a ratio of average AUA (including China)
Net revenue and operating expenses as a ratio of average AUA for Group (including China operation) 0.800% 0.735% 0.738% 0.731% 0.707% 0.714% 0.700% 0.640% 0.615% 0.609% 0.606% 0.613% 0.591% 0.600% 0.574% 0.552% 0.528% 0.524% 0.500% 0.400% 0.300% 0.200% 0.100% 0.000% 2013 2014 2015 2016 9M2017 Net re
Slide 30: Recurring and Non-Recurring Net Revenue
Recurring and Non-Recurring Net Revenue S$ (Million) FY2013 FY2014 FY2015 FY2016 9M2017 Recurring net revenue 25.62 29.48 34.64 34.71 29.97 Non-recurring net revenue 5.96 7.20 6.89 5.98 6.17 Total net revenue 31.58 36.68 41.53 40.69 36.14 YoY Change (%) FY2013 FY2014 FY2015 FY2016 9M2017 Recurring n
Slide 31: Net Revenue – Geographical Segment
Net Revenue – Geographical Segment S$ (Million) FY2013 FY2014 FY2015 FY2016 9M2017 Singapore 24.10 25.72 30.04 29.54 25.48 Hong Kong 6.50 9.48 9.55 8.66 7.90 Malaysia 0.98 1.48 1.94 2.26 2.47 China - - - 0.23 0.29 Group 31.58 36.68 41.53 40.69 36.14 YoY Change (%) FY2013 FY2014 FY2015 FY2016 9M2017
Slide 32: Net Revenue – B2B Business Segment
Net Revenue – B2B Business Segment B2B Net Revenue FY2013 FY2014 FY2015 FY2016 9M2017 (S$ Million) Recurring net revenue 18.16 21.09 24.50 24.49 21.15 Non-recurring net revenue 3.06 4.46 4.09 3.86 3.76 Total B2B net revenue 21.22 25.55 28.59 28.35 24.91 YoY Change (%) FY2013 FY2014 FY2015 FY2016 9M2
Slide 33: Net Revenue – B2C Business Segment
Net Revenue – B2C Business Segment B2C Net Revenue FY2013 FY2014 FY2015 FY2016 9M2017 (S$ Million) Recurring net revenue 7.46 8.39 10.15 10.22 8.82 Non-recurring net revenue 2.90 2.74 2.79 2.12 2.41 Total B2C net revenue 10.36 11.13 12.94 12.34 11.23 YoY Change (%) FY2013 FY2014 FY2015 FY2016 9M2017
Slide 34: Profit/Loss – Geographical Segment
Profit/Loss – Geographical Segment Profit/Loss YoY Change YoY Change (S$ Million) 3Q2016 3Q2017 (%) 9M2016 9M2017 (%) Singapore 2.74 3.07 +12.1 6.84 9.04 +32.0 Hong Kong 0.28 0.60 +118.9 0.35 1.26 +255.6 Malaysia 0.15 0.19 +32.4 0.27 0.76 +181.9 Others¹ (0.04) (0.06) +70.3 (0.09) (0.31) +248.9 Profi
Slide 35: Profit/Loss – Geographical Segment
Profit/Loss – Geographical Segment Profit/Loss (S$ Million) FY2013 FY2014 FY2015 FY2016 9M2017 Singapore 8.39¹ 9.37² 11.82 9.76⁴ 9.04 Hong Kong 0.40 2.10 1.65 0.53 1.26 Malaysia (0.36)⁵ (0.04)⁵ 0.28 0.38 0.76 Others³ - (0.01) (0.02) (0.16) (0.31) Profit before tax (excluding China operation) 8.43 11
Slide 36: 9M2017 Results & Outlook - Singapore
9M2017 Results & Outlook - Singapore • AUA grew 14.3% YoY (+4.0% QoQ) to a record high of S$4.92 billion as at 30 September 2017 • Net revenue grew 18.0% YoY to S$25.48 million in 9M2017, while net profit before tax grew 32.0% YoY to S$9.04 million in 9M2017 • Growth in revenue was linked to increas
Slide 37: 9M2017 Results & Outlook - Singapore
9M2017 Results & Outlook - Singapore • The Group believes that the more complete range of investment products and its fintech capabilities will continue to give B2B FA companies stronger wealth management capabilities in reaching out to more high net worth clients presently served by private banks •
Slide 38: 9M2017 Results & Outlook – Hong Kong
9M2017 Results & Outlook – Hong Kong • Hong Kong’s AUA grew 25.4% YoY (+6.5% QoQ) to S$1.61 billion as at 30 September 2017 • Net revenue increased 23.8% YoY to S$7.90 million and net profit before tax improved 255.6% to S$1.26 million in 9M2017 • Positive market sentiment and the increased range an
Slide 39: 9M2017 Results & Outlook – Malaysia
9M2017 Results & Outlook – Malaysia • Malaysia’s AUA grew 46.4% YoY (+9.2% QoQ) to hit a record high of S$508.37 million as at 30 September 2017 • Net revenue grew 50.0% YoY to S$2.47 million and net profit before tax grew by 181.9% YoY to S$0.76 million in 9M2017 • The Malaysia operation has been w
Slide 40: 9M2017 Results & Outlook – China
9M2017 Results & Outlook – China • The China business was soft launched in March 2016 and remains in the early stages of building the iFAST brand among potential clients and investment practitioners in China’s wealth management industry • Gross revenue in China operation decreased in both 3Q2017 and
Slide 41: 9M2017 Results & Outlook – China
9M2017 Results & Outlook – China • The China operation is continuing to bring in sales through its team of in-house wealth advisers (under the ‘platform-cum-IFA incubator’ strategy). The recruitment and training for this advisory arm will continue, as the Group sees more potential in the inflows fro
Slide 42: Section III: Appendices
Section III: Appendices PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 43: Business Overview
Business Overview • We are an Internet-based investment products distribution platform with assets under administration (AUA) of S$7.16 billion as at 30 September 2017 (stock code: AIY) • Two main business divisions: – Business-to-Consumer (B2C) platform, Fundsupermart (including its new FSMOne mult
Slide 44: 2000 – 9M2017 Milestones
2000 – 9M2017 Milestones 9M2017 • Launch of Stocks & ETFs on FSM Hong Kong 2000 2008 2014 2015 • Launch of Bonds on FSM Malaysia • Launch of online robo-advisory Launch of • Launch of iFAST • Incorporation of • Distribution of bonds service in Malaysia Fundsupermart.com Platform Services iFAST Platf
Slide 45: Business Model
Business Model PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C 45
Slide 46: Our Value Proposition
Our Value Proposition B2B FA Companies, Financial Institutions and Banks: • One platform, multiple investment products • Adoption of recurring revenue business model based on Assets Under Administration (“AUA”) Product Providers • Platform performs efficient collection of fees • IT solutions and bac
Slide 47: Fees Illustration
Fees Illustration 47 PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C
Slide 48: Thank you. For more information, please visit
Thank you. For more information, please visit www.ifastcorp.com PRIVATE & CONFIDENTIAL. NOT FOR EXTERNAL CIRCULATION. CO. REG. NO. R200007899C